STX Europe AS : STX Europe Announcement (A&G comments - 201212) "STX Europe AS sells its 50.75% stake in Singapore-listed STX OSV Holdings. Ltd. to Fincantieri Oil & Gas S.p.A. STX Europe AS has on December 21, 2012 entered into a share purchase agreement whereby STX Europe AS has agreed to sell to Fincantieri Oil & Gas S.p.A., subject to the terms and conditions of the share purchase agreement, 598,851,000 shares in STX OSV Holdings. Ltd. ("STX OSV"), representing approximately 50.75 per cent. of the issued share capital of STX OSV, for an aggregate cash consideration of S$1.22, being S$730,598,220 in cash for each STX OSV share. The closing of the transaction is subject to certain conditions, including third party consents. Completion of the transaction is expected to take place by no later than the end of April 2013. Upon the satisfaction of the conditions, Fincantieri Oil & Gas S.p.A. will be required to make a mandatory cash offer for the remaining shares of STX OSV in compliance with the rules of the Singapore Code on Take-overs and Mergers. Fincantieri Oil & Gas S.p.A. has today made a pre-conditional mandatory cash offer announcement in relation to the above, see http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2DA93EC8368FC0F748257ADB000AF799/$file/Pre_Conditional_Mandatory_Cash_Offer_Announcement_dtd_21_12_2012.pdf?openelement. Fincantieri Oil & Gas S.p.A. is incorporated in Italy and is an existing wholly owned subsidiary of Fincantieri - Cantieri Navali Italiani S.p.A. ("Fincantieri"). Fincantieri is one of the world's largest shipbuilding groups, which in over 200 years of maritime history has built more than 7,000 vessels. It is world leader in cruise ship construction and a reference player in other sectors, from naval vessels to cruise ferries, from megayachts to special high value-added vessels, and ship repairs and conversions. Headquartered in Trieste, the Group has a total of nearly 10,000 employees and in Italy alone it has eight shipyards and two design centres, one in Trieste, the largest in Europe, and the other in Genoa. Fincantieri operates in the United States through its subsidiary Fincantieri Marine Group (FMG). This company, which serves both civilian and government customers, including the U.S. Navy and Coast Guard, has three shipyards (Marinette Marine, Bay Shipbuilding, Ace Marine), all located in the Great Lakes region. . Fincantieri is present in the UAE with Etihad Ship Building, a joint venture set up with Melara Middle East and Al Fattan Ship Industries, to design, produce and sell different types of civilian and military ships as well as perform maintenance and refitting activities. Since 2002 Fincantieri has built or has orders to build 104 ships, worth a total of Euro 24 billion, and has developed dozens of prototypes in the various business segments in which it operates. Contact information: Headquarter: STX Europe AS Karenslyst allé 57 P.O. Box 453 Skøyen Oslo, Norway Investor Relations: Ju-Won Park Deputy CFO Tel: +47 21 02 15 21 E-mail: firstname.lastname@example.org This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: STX Europe AS via Thomson Reuters ONE HUG#1666941
STX Europe AS : STX Europe Announcement (A&G comments - 201212)
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